The Governments Could Ban Cryptocurrencies, Says Jim Rogers
As per the latest reports, Jim Rogers has shared his concerns about the recent growth of cryptocurrencies. Rogers talked about how the cryptocurrency industry has gained a lot of ground in the mainstream market since 2020.
The cryptocurrency industry is constantly making improvements to its products and services in order to attract as many mainstream institutions as possible.
So far, the industry has caught the attention of many investment firms as well as giants from different sectors. Some of the major mainstream institutions such as Tesla, PayPal, MassMutual, JPMorgan, and many more.
He stated that with the crypto-adoption level increasing in the mainstream industry, there are chances that the cryptocurrency industry would soon gain the required success in the mainstream industry.
He stated that he fears if that happens, then the governments always have the authority to pull the plug on cryptocurrencies. According to Rogers, the cryptocurrency industry may soon hit a point where it may pose a threat to the fiat currencies.
That is something that governments from around the world do not want to happen. They want all the power to themselves and would never let a decentralized platform, take it from them. It is a monopoly that has been going on among the governments of the entire world and they would not let cryptocurrencies take over at all.
He added that he now fears that the governments may soon ban cryptocurrencies in order to keep control of the power. Jim Rogers is famously known as the co-founder of an investment firm called the Quantum Fund. He is also prominent among the investors, as he has been heard talking positively about cryptocurrencies on several occasions.
According to him, the cryptocurrency that the governments currently fear the most is Bitcoin (BTC), which is the old and the largest cryptocurrency in the entire crypto-verse by market capitalization.
Rogers shared his views about cryptocurrencies as well as the behavior of governments about them during an interview at Kitco News.
He added that if we look at the major countries from around the world, we would see that all of them are working on their own digital currencies. Some of the countries have even completed their test and pilot phases and are now ready to launch their CBDCs.
Rogers pointed towards China, Russia, Japan, South Korea, and many more countries and also included the United States at the end. He stated that the United States has boarded the CBDC train a bit late but would eventually catch up to other countries.
However, the fear is that once these countries launch their digital currencies, they will move on with their next plan. The plan of the majority of the countries is to ban cryptocurrencies before they take over the mainstream industry.